DIRK PEETERS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DIRK PEETERS
Largest movements
- Current investments -€48,546
down €48,546 (-10.4%), from €467,081 to €418,535
- Cash -€33,238
down €33,238 (-36.0%), from €92,223 to €58,985
mainly Contributions, distributions and other (-€100,000) and Other debts (-€26,759)
- Receivables within one year -€20,073
down €20,073 (-71.2%), from €28,205 to €8,132
of which Other amounts receivable: -€22,795
- Tangible fixed assets -€18,384
down €18,384 (-12.6%), from €145,899 to €127,515
of which Furniture and vehicles: -€12,842
- Reserves -€86,727
down €86,727 (-14.3%), from €605,518 to €518,791
- Other debts -€26,759
down €26,759 (-21.0%), from €127,252 to €100,493
- Financial income +€8,206
up €8,206 (+34.1%), from €24,051 to €32,257
- Gross operating margin -€6,739
down €6,739 (-20.2%), from €33,335 to €26,596
- Depreciation -€5,085
down €5,085 (-18.2%), from €27,995 to €22,910
- Taxes +€2,451
up €2,451 (+174%), from €1,408 to €3,860
- Financial charges -€2,133
down €2,133 (-12.8%), from €16,710 to €14,577
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €884,857 | €764,647 | -€120,210 | -13.6% |
| Fixed assets | 21/28 | €145,899 | €127,515 | -€18,384 | -12.6% |
| Tangible fixed assets | 22/27 | €145,899 | €127,515 | -€18,384 | -12.6% |
| Land and buildings | 22 | €124,930 | €119,388 | -€5,542 | -4.4% |
| Furniture and vehicles | 24 | €20,969 | €8,127 | -€12,842 | -61.2% |
| Current assets | 29/58 | €738,958 | €637,132 | -€101,826 | -13.8% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,205 | €8,132 | -€20,073 | -71.2% |
| Trade receivables | 40 | €4,171 | €6,893 | +€2,722 | +65.3% |
| Other amounts receivable | 41 | €24,035 | €1,239 | -€22,795 | -94.8% |
| Current investments | 50/53 | €467,081 | €418,535 | -€48,546 | -10.4% |
| Cash at bank and in hand | 54/58 | €92,223 | €58,985 | -€33,238 | -36.0% |
| Deferred charges and accrued income | 490/1 | €1,449 | €1,480 | +€32 | +2.2% |
| Total equity and liabilities | 10/49 | €884,857 | €764,647 | -€120,210 | -13.6% |
| Equity | 10/15 | €620,518 | €533,791 | -€86,727 | -14.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €605,518 | €518,791 | -€86,727 | -14.3% |
| Distributable reserves | 133 | €605,518 | €518,791 | -€86,727 | -14.3% |
| Provisions and deferred taxes | 16 | €125,856 | €125,818 | -€38 | 0.0% |
| Provisions for liabilities and charges | 160/5 | €125,856 | €125,818 | -€38 | 0.0% |
| Other liabilities and charges | 164/5 | €125,856 | €125,818 | -€38 | 0.0% |
| Amounts payable | 17/49 | €138,483 | €105,037 | -€33,445 | -24.2% |
| Amounts payable within one year | 42/48 | €138,483 | €105,037 | -€33,445 | -24.2% |
| Trade debts | 44 | €10,784 | €3,379 | -€7,406 | -68.7% |
| Suppliers | 440/4 | €10,784 | €3,379 | -€7,406 | -68.7% |
| Taxes, remuneration and social security | 45 | €446 | €1,165 | +€719 | +161% |
| Taxes | 450/3 | €446 | €1,165 | +€719 | +161% |
| Other amounts payable | 47/48 | €127,252 | €100,493 | -€26,759 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,995 | €22,910 | -€5,085 | -18.2% |
| Other operating charges | 640/8 | €3,589 | €4,234 | +€645 | +18.0% |
| Gross operating margin | 9900 | €33,335 | €26,596 | -€6,739 | -20.2% |
| Operating profit (loss) | 9901 | €1,752 | -€547 | -€2,300 | |
| Financial income | 75/76B | €24,051 | €32,257 | +€8,206 | +34.1% |
| Recurring financial income | 75 | €24,051 | €32,257 | +€8,206 | +34.1% |
| Financial charges | 65/66B | €16,710 | €14,577 | -€2,133 | -12.8% |
| Recurring financial charges | 65 | €16,710 | €14,577 | -€2,133 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €9,093 | €17,133 | +€8,039 | +88.4% |
| Income taxes | 67/77 | €1,408 | €3,860 | +€2,451 | +174% |
| Profit (loss) for the period | 9904 | €7,685 | €13,273 | +€5,588 | +72.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,685 | €13,273 | +€5,588 | +72.7% |
Source: filed annual accounts (NBB), financial years ended 30 April 2025 and 30 April 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.